Answer:
Judy must recognize $4,000 of gross income from the stock for the current year.
True
Explanation:
When you receive stock in lieu of cash for payment for services rendered. you'll first owe income tax based on the value of the stock at that time.
Hi there
What we need first is the book value of the equipment
The book value is
originally costing - accumulated depreciation
100,000−65,000=35,000
Since the sale price is 40000 and the book value is 35000 This result a gain of 5000 (40000-35000)
Good luck!
Answer:
Date Account title Debit Credit
12/31/2019 Lease Receivable $175,934
Cost of Goods sold $120,000
Sales Revenue $175,934
Inventory $120,000
Date Account title Debit Credit
12/31/2019 Cash $40,800
Deposit Liability $40,800
The rental amount is constant and is made on the first day of the lease period so this is an annuity due.
As the collectability is probable, you need to find the present value of this lease:
= 40,800 * Present value of annuity due factor, 5 year, 8%
= 40,800 * 4.3121
= $175,933.68
= $175,934
Answer:
242.65
Explanation:
Data provided in the question:
year 2011 2012 2013
Salary $65,000 $72,000 $76,000
Consumer Price Index 226 230 235
Real Interest Rate 2.5% 2.7% 1.8%
Nominal interest rate for 2013 = 7.3%
Now,
Rate of inflation for 2013 = Nominal rate - Real rate
= 7.3% - 1.8%
= 5.5%
Therefore,
CPI in 2013 = Consumer Price Index in 2012 × (1 + inflation )
= 230 × ( 1 + 0.055 )
= 242.65
Answer:
I think industrial markets
